Infleqtion (INFQ) Registration filing summary

Company overview and business model

• Formed as a Cayman Islands exempted company to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, with no specific target identified at IPO time.

• Management team led by experienced SPAC sponsor with a track record of prior SPACs, leveraging deep industry relationships and proprietary sourcing channels.

• Focus on industries where management expertise provides a competitive advantage, with an emphasis on targets with strong growth prospects, recurring revenue, and operational improvement potential.

• Strategic and Operating Partners, including former S&P 500 executives, support sourcing and value creation in the business combination.

Financial performance and metrics

• As of December 31, 2024, the company had not commenced operations and reported a net loss of $51,910, with no revenue generated.

• Deferred offering costs totaled $157,937, and a working capital deficit of $184,847 was reported at year-end.

• The sponsor provided up to $600,000 in loans to cover offering-related expenses.

Use of proceeds and capital allocation

• $300 million in gross proceeds from the IPO and $3 million from private placement units will be placed in a U.S.-based trust account, with at least 90% of proceeds held in trust.

• Funds in the trust account may only be used for a business combination, redemptions, or liquidation, with permitted withdrawals for taxes and up to $1 million annually for working capital.

• Approximately $2 million will be available outside the trust account for due diligence, legal, administrative, and working capital needs.